{"id":8151,"date":"2021-09-16T11:29:51","date_gmt":"2021-09-16T15:29:51","guid":{"rendered":"https:\/\/desis.osu.edu\/seniorthesis\/?p=8151"},"modified":"2021-09-16T11:30:23","modified_gmt":"2021-09-16T15:30:23","slug":"icons-concrete-3d-printing-tech-receives-207m-in-funding","status":"publish","type":"post","link":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/2021\/09\/16\/icons-concrete-3d-printing-tech-receives-207m-in-funding\/","title":{"rendered":"ICON\u2019s Concrete 3D Printing Tech Receives $207M in Funding"},"content":{"rendered":"\n

Author:<\/strong> <\/a>Michael Molitch-Hou<\/a><\/p>\n\n\n\n

Date: <\/strong>August 25, 2021<\/a> <\/p>\n\n\n\n

Publisher: <\/strong>3Dprint.com<\/p>\n\n\n\n

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Within the same month, ICON<\/a> unveiled a 3D printed Martian habitat<\/a> and the largest 3D printed structure<\/a> in North America, a barracks for the Texas Military Department. Now, the additive construction startup has been infused with another $207 million to push the boundaries of its technology even further. With the new Series B raise, the company has garnered a combined $266.5 million in funding over the course of six rounds.<\/p>\n\n\n\n

\u201cSince our unveiling in 2018, ICON\u2019s primary work has been maturing the technology from prototype to reliable, ready-for-the-world products and services,\u201d said Jason Ballard, Co-founder and CEO of ICON. \u201cThis has required dozens of fundamental engineering, scientific and architectural breakthroughs, and we\u2019re very proud of where we are today. We want to turn up the velocity in a major way and are ready to scale. With the support of the very best of venture capital, strategic capital and industry partners, this round of funding will help us do just that: faster R&D, manufacturing and expansion to the people and places that need this technology.\u201d<\/p><\/blockquote>\n\n\n\n

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The exterior of North America\u2019s largest 3D printed structure. Image courtesy of ICON.<\/p>\n\n\n\n

Among U.S. additive construction firms, ICON has demonstrated some of the most success. It has 3D printed over 24 homes and structures in the U.S. and Mexico, more than other businesses in the space. In 2021, it put its first 3D printed houses on sale in the mainstream housing market via U.S. developer 3Strands.<\/p>\n\n\n\n

ICON has also released its most recent Vulcan 3D printer, which can print up to 1.5 times larger and two times faster than its predecessors. The system can produce structures up to 3,000 square feet in area. Additionally, the company unveiled its Exploration Series of homes, including the energy efficient \u201cHouse Zero\u201d. In total, ICON has experienced 400 percent in revenue growth almost every year since it was founded in 2017.<\/a><\/p>\n\n\n\n

The Vulcan 3D printer from ICON. Image courtesy of ICON.<\/p>\n\n\n\n

Ballard added, \u201cWe\u2019re treating this like the Apollo program for the future of the way we build and the future of the way we meet one of our most basic needs. We\u2019re going to accelerate the growth of an elite and diverse team of scientists, engineers, architects, operators, and leaders that is now over 100 and growing. We anticipate more rapid progress in the years ahead to help bring housing and construction into the modern world and in-line with humanity\u2019s highest hopes and values.\u201d<\/p><\/blockquote>\n\n\n\n

The Series B was led by Norwest Venture Partners<\/a>, whose managing partner, Jeff Crowe, will be joining the startup\u2019s Board of Directors. Participating in the investment round were 8VC<\/a>, BIG-Bjarke Ingels Group<\/a>, BOND, Citi, Crosstimbers<\/a>, Ensemble, Fifth Wall<\/a>, LENx<\/sup><\/a>, Moderne Ventures<\/a> and Oakhouse Partners<\/a>.<\/p>\n\n\n\n

\u201cICON\u2019s groundbreaking technology has created a new paradigm for homebuilding that fundamentally changes how housing is constructed,\u201d said Jeff Crowe, managing partner, Norwest Venture Partners. \u201cThe company is already building everything from single family homes for the homeless all the way to structures for habitation on the moon and Mars.  But we are particularly excited about the opportunity for ICON to collaborate with home builders and massively impact the housing shortage currently plaguing the U.S. We\u2019re thrilled to add ICON to our portfolio of innovative prop tech leaders and look forward to partnering with the team in the years ahead.\u201d<\/p><\/blockquote>\n\n\n\n

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